The Maui Real Estate Blog

Oceanfront Wailea Point Villa Starts Off 2019 Strong

Brought to market on the 2nd day of the new year, Wailea Point 1104 is a direct beachfront villa with stunning views out towards Kahoolawe and Molokini. Located on the 2nd floor, the outdoor lanai offers unbeatable views from arguably Wailea’s best oceanfront condo complex. The 2nd level floor plan also has vaulted ceiling which add a certain to depth to villa and allows the 2419 sqft floor plan to live a lot bigger than what it suggests.

With 3 bedrooms and 3 full bathrooms, this villa is perfect for large parties and is a highly desirable potential short term rental unit. The monthly rental income that can be generated will go a long way towards helping cover steep monthly expenses. Upgraded over the years, the villas has been tastefully done compared to some of the other older villas for sale. As a two story unit, the villa has a standalone residence feel with all of the perks of condo living.

Listed at $7.9 million

Situated high above the world-famous Wailea walkway with its spectacular cliffs, Wailea Point 1104 offers one of the most private oceanfront locations. This is an upstairs two-story condominium with a stunning, front-to-back renovation. Wailea Point 1104 comes furnished and is fully equipped, ready to move in.

When we brought this unit to market, we were absolutely excited about what it had to offer. The highlight of the property is the 700+ sqft of outdoor lanai space that is ready to be turned into the ultimate indoor/outdoor living arrangement. Just steps from the villa is one of Wailea’s premier walking paths and little coves for your own private enjoyment.

Wailea Point is a low density, meticulously landscaped property that includes numerous amenities – 3 swimming pools, a lap pool, 2 spas, a fully equipped fitness center plus lighted tennis, paddle tennis and pickleball courts. Fine dining is a short stroll away at the Four Seasons and Fairmont Kea Lani resorts. Wailea’s renowned golf courses and The Shops at Wailea are also just minutes away.

Wailea Point Market Update 2018

Wailea Point market has seen a solid 2018 with 10 units sold worth a running sales volume of $28,650,888. Compared to some of the sales data in the past, 2018 was a spectacular year for a complex with one of the highest barriers to entry.

2018 saw slow start with no sales in January, but finished the 1st quarter with 3 sales as interest increased towards the end of February and early March. The spring busy season was fruitful for Wailea Point where is saw 3 more sales between the months of May and June. The market cooled off for a few months, but picked up in the fall with 4 sales in total across September, October, and November.

Considering the price point, it is impressive to see that 100% of sales in 2018 were able to find a buyer within 9 months of coming to market. With the exception of 1 sale in the $1 million price range, the remaining sales have been in the middle market of around $3-$4 million. Due note that the one unit sold in the $1 million range is absolutely unheard of and was a great opportunity to get into the community for well under $2 million. Interestingly, the $4 million price point has been very productive with 2 units sold, while the $3 million range has been the most productive with a bulk of the sales.

Buyers should certainly expect to a pay premium for their unit with price/sqft ranging anywhere from $1000-$2000.

At this point in time, there is just under $80 million worth of inventory available on the market. However, 2 units priced at $25 and $17 million skew the market data. In addition, the market is top heavy with 70% of the units priced above $3.5 million.

It is certainly not cheap to buy into Wailea Point, but that is the main reason buyers like it. The steep barrier to entry ensures there are only a handful of potential buyers that can afford not only the sale price, but also the monthly maintenance fees.

More than 50% of the market has been listed within the last 2 months and we can still expect more to come as winter visitors continue to arrive.

Contact a South Maui Real Estate and Lifestyle Specialist

Ho’olei villas, we are also currently the in house “Sayles” team at Ho’olei Grand Wailea

Please interview me to be your trusted Maui Real Estate and Lifestyle Advisor. I was born in South Maui and raised on the island, and spend a considerable amount of time to inform my clients about the best deals currently on the market. Please do not hesitate to call me for your Maui real estate needs. I am more than happy to assist you in your home search.